Ed Pawlowski wrote in
:

On Wed, 25 Jan 2012 12:48:53 -0600, "Pete C."
wrote:



It's not "progressive" (a.k.a. socialist), if it is the same rate for
everyone and only has a poverty cutoff.

I'd even agree to a progression on the bottom end. After about
75-100k it should be flat though. No loopholes, no deductions.


are you going to separate income from investment earnings(capital gains)?
that will have a negative effect on the economy,as less money wil be
avaialble for investment.
Look at Warrent Buffet;he gets a tiny salary,but most of his wealth is held
by corporations and foundations,same for Bill Gates.
Thus,their taxes are low,because most of their wealth is sheltered.
But their "needs" are provided by their corporations.

How about the family farm? right now,the inheritance tax forces people to
sell their property to meet the tax,despite taxes having already been paid
on that wealth.Double taxation.

--
Jim Yanik
jyanik
at
localnet
dot com